Archive for January, 2011

Watch out! Mary’s about!

Did you catch Mary Portas: Secret Shopper last Wednesday night? If you missed it, make sure you put this week’s episode in your diary.

Mary is London’s leading retail marketing consultant. She’s all about uncovering bad customer service and making sure the customer is getting the service they deserve and last week she went undercover in the world of sofa superstores revealing an industry that seems to put sales commission (and definitely not the customer) first.

There’s a great article on The Telegraph website (Mary is also a columnist for The Telegraph) in which she talks about her “10 Worst Customer Service Crimes.”

It’s well worth taking a look at – I found myself nodding furiously in agreement with each of her points as I read through it.

From cashiers that have lost all communication skills (or who are too busy chatting to each other to even look at you as they serve you) to shop floors crammed with stock – there are scenarios here that I’m sure we can all relate to.

I’d highly recommend you read the article and while you do, just make sure you don’t have anything like this going on in your business.

Would your customer service be named and shamed or named and famed if Mary was to drop in on you?

Don’t miss ‘Mary Portas: Secret Shopper’ this Wednesday, Channel 4 at 9pm

You can read the article here

Twitter – Weekly Updates for 2011-01-28

My new book ‘The Botty Rules – success secrets for business in the 21st Century’ is published on 1st February.

It tells the story of my entrepreneurial career and of the five separate million pound + businesses that I’ve built over the last five years. Interwoven within the story are The Botty Rules – the simple but powerful lessons that I’ve learned along the way, sometimes painfully, but which collectively are a complete blueprint for success for any business owner or entrepreneur.

Botty Rule No. 1 in the book is:

“As a business owner, you are 100% responsible for what happens to your business. It’s all your fault…”

Now I’ve been accused of being too harsh with this rule. People say “Oh Nige, that’s not true because X happened or Y happened to my business”. I say “Rubbish”. It’s all your fault.

A couple of examples to prove my point here. The first one is the excellent BBC2 TV series Mary Portas, Queen of Shops. Each week retail guru Mary Portas turns up at some local shop that is absolutely down and out and on the verge of bankruptcy. Over the course of the programme, she completely transforms these businesses from struggling loss making enterprises, with few, if any, customers, into vibrant, popular businesses that are making good money. It’s great TV but it’s also full of excellent lessons, not least of which is that it is the business owner who is responsible for what happens to that business. The greengrocer in Hoylake was very eager to blame the arrival of the Sainsbury’s Express shop for their demise, but Mary turned it round. The hairdresser in Rochdale had no idea why he was now losing money having been so successful 20 years ago – again, Mary took responsibility and turned it round. Responsibility, you see. It’s a powerful thing.

I had a friend who ran a swimming pool business and, believe me, whatever market you are in, the market for swimming pools has seen massive shrinkage over the last couple of years. It was a family business, 50 years old, and it was on the verge of going under. He saved himself by putting in place a maintenance programme and looking after lots of the pools that he’d already installed (truth is he should have been doing this for years anyway!)

His two main competitors both went bump in the first half of 2010, but he is hanging on in there and surviving because he took responsibility and created a new revenue stream. His competitors that had to close down, of course, blamed the recession and everybody else but themselves. They avoided responsibility.

It’s not harsh. It’s true.

What’s going on in your business right now? Whether it’s good or bad, do you accept full responsibility?

You can order ‘The Botty Rules at all good book stores or via Amazon.

Kindle Edition also available here.

You can also follow @bottyrules on Twitter and support us as we publish the whole book tweet by tweet! This is a genuine world first so spread the word!

The Great British Entrepreneurial Spirit

What do you think makes Britain really great?

According to an article in the Independent it’s stuff like allotments, caravanning, picnic blankets, crumpets and garden knomes.

Personally I think it’s our Entrepreneurial Spirit.

I wrote a post last year about a report that was commissioned to mark the launch of Global Entrepreneurship Week. It revealed that around half of the UK’s population want to start their own business. The fact that just under 6% are actually in the process of doing so is a whole other story which is all to do with how we ensure that people that want to go into business for themselves have the tools available to them to make it work (ehem… Entrepreneurs Circle anyone??)

A tiny1% increase in self-employment figures would apparently contribute an additional £22 billion to the country’s economy. Not to be sniffed at I think you’ll agree!

I don’t know about you but it fills me with pride when I look around and see (in amongst the naysayers and the doom and gloom about the ‘state of the economy’) all kinds of Entrepreneurs, carving out a way forward for themselves and for their country and doing very well out of it too thank you very much.

Not everyone is cut out to be an Entrepreneur, but if you fit the mould you should be proud of yourself.

We are (and will continue to be) a big part of what makes Britain ‘Great’!

You can see the Independent article here.

My new book ‘The Botty Rules – success secrets for business in the 21st Century’ is published on 1st February.

It tells the story of my entrepreneurial career and of the five separate million pound + businesses that I’ve built over the last five years. Interwoven within the story are The Botty Rules – the simple but powerful lessons that I’ve learned along the way, sometimes painfully, but which collectively are a complete blueprint for success for any business owner or entrepreneur.

Botty Rule No. 12 in the book is:

The first thing that super successful business owners do every morning is the most important, most critical thing for the success for their business… it’s marketing”.

I learnt this rule from a very wise man called Martin Howey. Not long after I’d set up at N5, I was talking with Martin and he asked me what was the most important thing that I had to achieve if my business was going to be successful? This is one of those awkward questions and I waffled around for a few minutes before settling on “Getting new customers and keeping the ones I’ve got”.

Martin agreed with me. He explained that I was absolutely right that as long as I was getting a regular flow of new customers and keeping the ones that I already had, then everything else in my business could and would be taken care of – but without that regular flow of customers, I didn’t have a business at all. He went on to explain to me how getting and keeping customers is all about marketing.

He then paused and asked what I’d done first thing that morning when I arrived in the office. In common with many people, I suspect, my answer was that I’d check my email, checked the voice mails, briefed the staff, made a couple of phone calls and started doing some work.

“That’s interesting …” he said, “… when are you going to do the marketing today?”

“I hadn’t planned on doing any marketing today” I replied.

“But you said that marketing is the most important thing for the success of your business so why would you not only not do it first thing in the morning but not plan to do anything at all today?” Martin asked me, surprised.

It was a very salutary lesson and one that I learned and implemented immediately. From that day on I’ve established a regular routine. My working day typically begins around 7.30 a.m., I’m often the first into the office and when I arrive I shut my door and I hang up the little sign that I have that says “Do not disturb unless building is on fire” (my staff know that I’m serious about this. No one ever interrupts my morning session when that sign is on the door).

The phone is off the hook, my email isn’t turned on and I spend usually at least 90 minutes, sometimes as much as two hours, doing marketing for my business.

This is probably the most productive habit I have ever developed. It has been worth literally millions of pounds to me.

You see, when I emerge from my office, usually around 9.15 / 9.30 to confront the rigours of the day, it doesn’t really matter what happens because I’ve done the marketing for the day. (And by the way, you can get a lot of marketing done in 90 minutes!) This has ensured that our business has kept on the front foot, that we’ve always had very strong growth curves and that our retention rates are also extremely healthy.

Like I said, it’s a habit and it’s one that many other super successful business owners have implemented as well. I know, because they’ve told me. I commend it to you, especially if marketing is not what you’re good at. If you’re like most business owners, then the marketing is difficult, it’s a chore, it’s not your normal space. If that’s you then you’re at even greater risk of not getting the marketing done UNLESS YOU DISCIPLINE YOURSELF TO GET IT DONE FIRST THING IN THE MORNING.

So, what did you do first thing this morning? If it wasn’t marketing make sure you make tomorrow morning the first day of practising this habit on a daily basis!

You can order ‘The Botty Rules at all good book stores or via Amazon.

Kindle Edition also available here.

You can also follow @bottyrules on Twitter and support us as we publish the whole book tweet by tweet! This is a genuine world first so spread the word!

Twitter – Weekly Updates for 2011-01-21

My new book ‘The Botty Rules – success secrets for business in the 21st Century’ is published on 1st February.

It tells the story of my entrepreneurial career and of the five separate million pound + businesses that I’ve built over the last five years. Interwoven within the story are The Botty Rules – the simple but powerful lessons that I’ve learned along the way, sometimes painfully, but which collectively are a complete blueprint for success for any business owner or entrepreneur.

Botty Rule No. 20 in the book is:

“Bite-sized goals are good”.

There’s still only a tiny proportion of business owners who write down their goals. Those of us that do tend to achieve, or, more often, overachieve what we wrote down, whereas the people that never write anything down rarely achieve super success. (There’s a really clear lesson in there somewhere!)

I prefer to work with bite-sized goals. What I mean by that are things that we can get done in one, two or three months something that is almost touchable in terms of how close it is. I’ve never been one for big strategic planning and three-year business plans and huge strategic goals. In my experience, life’s never been like that, so I work in a much tighter time frame. But I’m very specific. My goals are posted on my bathroom mirror. I see them every day when I’m having a shave. In my dressing area I’ve got all our past goals stuck up there, I find looking at all our accomplishments really helpful. When I’m on a roll, it inspires me further, and when a setback occurs it helps me keep perspective and get refocused.

I know that most people don’t do this and I also know that most people don’t get quite as much done as we do. I don’t think that’s a coincidence.

Underpinning all of this, of course, is some level of clarity as to what you want to achieve. Again, I don’t think this needs to be cerebrally taxing, you just need to be specific about what you want to implement and then make it happen. Keeping it simple is definitely de rigueur here.

What bite-sized goals can you set yourself today? Write them down and focus your attention on making them happen!

You can order ‘The Botty Rules at all good book stores or via Amazon.

Kindle Edition also available here.

You can also follow @bottyrules on Twitter and support us as we publish the whole book tweet by tweet! This is a genuine world first so spread the word!

Get back on track and steam ahead!

I enjoyed reading about the plans in Yorkshire to take commuters back in time to the romance and ‘The Railway Children’ magic of steam powered trains today!

When Keighley and Worth Valley Railway closed in 1962, enthusiasts rallied to preserve the track and rolling stock which once connected the mills of the Yorkshire Moors and turned it into a tourist attraction. But now there’s talk that commuters could soon be reliving the golden age of branch line travel for real. They’re hoping that by bringing back the trains at peak times they’ll be taking hundreds of cars off the congested village roads and if it does re-open it will be the first branch line to do so since the loss of 4,000 miles of British railway and 3,000 stations in the 1960’s. It may also pave the way for other links to re-open too.

Anyway, tenuous link perhaps… but it got me thinking about the concept of going back in time in order to get back on track with your business.

Do you remember why you first went into business for yourself? What were your hopes and dreams for your business? Did you have big ideas of making an important contribution to the world? Did you plan to set your family up for life? Did you dream of providing a service that would make people’s lives better? Whatever it was, at some point down the line the day to day reality of running a business can take over that initial excitement that you started off with. Are you bogged down with the day to day of running your business and have you lost sight of what’s really important in order for you to move forward?

Take a few minutes today just to jot down whatever it was that made you take that giant step towards being the master of your own destiny. Reconnect with your reasons for starting down this road… and rest assured that the Entrepreneurs Circle is here to help you achieve that vision! Sometimes it just takes a little nudge or gentle reminder to get your focus back on the right stuff and remind yourself of the reason you became an entrepreneur in the first place. We’re here to give you that nudge whenever you need it.

All aboard?

You can read the article on the Independent website here

My new book ‘The Botty Rules – success secrets for business in the 21st Century’ is published on 1st February.

It tells the story of my entrepreneurial career and of the five separate million pound + businesses that I’ve built over the last five years. Interwoven within the story are The Botty Rules – the simple but powerful lessons that I’ve learned along the way, sometimes painfully, but which collectively are a complete blueprint for success for any business owner or entrepreneur.

Botty Rule No. 25 in the book is:

“Good offers make you money, not cost you money – so don’t just slash your margins”.

So many business owners are reluctant to implement offers, and when they do, it’s a straightforward sale with X percent off. This isn’t smart. There are much more creative offers available to any business that can have a much more positive impact on your P and L. Whenever you take a percentage off your top line, you are, of course, taking an even bigger percentage off your bottom line and that’s just not smart.

A Chinese restaurant near where I live ran a great offer last year. It was “free Coke and wanton with every order over £30”. The offer was introduced into their takeaway business and when I got talking to the owner, she explained that they knew that their average takeaway spend was £27 (this, by the way, immediately propels them into the top 5% of restaurant owners, i.e. they knew what their average spend was!), they wanted to see if they could do something that could push this up above £30, so they went down to their cash-and-carry to see what was on offer there. They were able to procure a large number of one litre bottles of Coke – hence this offer was created. The impact was startling. Not only did the average spend go up to just over £33 (that’s a 20% uplift) but the number of takeaway orders they received also went up – by over 15%. This was because the three other Chinese restaurants in the vicinity didn’t have the nouse to have an offer of their own, so people came to get their free Coke and wantons rather than going to the other places. This compounded impact of an increase in transaction volume and an increase in transaction size had a significant impact on the profitability of the takeaway business. It rose by almost 40%. That’s a good offer that made the business owners money and didn’t cost them money (incidentally, the free Coke and wantons actually cost them 55pence per order).

There’s an offer of this power and magnitude waiting to be uncovered in your business.

Seek it out and use it!

You can order ‘The Botty Rules at all good book stores or via Amazon.

Kindle Edition also available here.

You can also follow @bottyrules on Twitter and support us as we publish the whole book tweet by tweet! This is a genuine world first so spread the word!

Ricky! (in tone of Bianca from Eastenders)

It looks like Ricky Gervais didn’t make many friends at the Golden Globes!

Anita Singh has written an article about it on the Telegraph website and her list of ‘close to the bone’ gags he told while hosting the show needs to be seen to be believed.

Anyway – it got me thinking. At the end of the day you can’t please them all can you? There are always going to be people that don’t like what you’re doing (or vehemently disagree with every move you ever make) but at the end of the day, you’ve got to focus on your niche and stay true to your own unique way of doing things. So, while Ricky Gervais could possibly have toned the jokes down a little bit for the Golden Globes, at least he stayed true to his fans and his niche!

Are you trying to please too many people in your business? Are you reacting and changing things based on one or two whingers and whiners? Maybe by trying to please everyone you’re not really pleasing anyone.

And in my opinion, if you’re not getting a little negative feedback every now and again, then you’re probably not pushing your message and marketing far enough!

Read the article here

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